After almost half a century in the municipal finance industry, with a heavy focus on affordable housing, public finance lawyer Howard Zucker is one of the most respected and admired attorneys in the business.
Zucker, managing partner at
"I have known Howard Zucker for over 40 years, primarily as an investment banker and then as an issuer of municipal bonds," said Judd S. Levy, former head of the housing finance department at Merrill Lynch Capital Markets. "During that time, I was always impressed by his intellect and institutional memory.
"But what I really appreciated was his character and integrity. Whenever there was a question of whether a transaction was appropriate, I could always count on Howard to give me an honest answer even if it cost him a piece of business," said Levy, former chairman of the board at the State of New York Mortgage Agency and New York State Housing Finance Agency.
"Howard has a reputation for the highest standards of integrity with the rare willingness for telling the hard truths to issuers and underwriters alike without concern for any financial implications to him or his firm," said Kent Hiteshew, strategic advisor at EY LLC (Ernst & Young). "As a result, he is universally respected and trusted throughout the municipal industry."
Zucker was president of the
During his tenure, he helped transform NABL from a rather insular organization to one that collaborates with other market participants and industry groups and led NABL in promoting electronic forms of disclosure, which are now the industry standard.
He also helped NABL lead efforts to address potentially unethical pay-to-play contributions by attorneys to political campaigns.
"I was scheduled to become president of NABL in September of 1999, but during the summer I had to have emergency bypass surgery. Most of my family and friends were of the view I should 'bypass' that opportunity and focus on my recovery," Zucker recalled. "I decided to become president as scheduled and it became the best experience of my professional life. Instead of focusing on transactions, I was focusing on the same issues with a much broader lens. It also made me a better lawyer for my clients."
Zucker has over 46 years of experience in housing finance. He was the first chairman of the bond finance practice division of the Forum of Affordable Housing and Community Development Law of the American Bar Association.
"From my first day at Hawkins, I wanted to do housing finance. And that became the major focus of my practice," he said. "I think our housing finance folks have done some great work helping first-time homebuyers and low-and-moderate income tenants get safe, sanitary and decent housing."
Zucker co-authored the
His experience and expertise are widely appreciated in the industry.
"While it was the shared last name (no relation) that first caught my attention — it was Howard's commitment to excellence, integrity and the law that sustained my respect for and reliance on his legal opinions as both a banker and issuer," said Marian Zucker, sector lead on public finance housing at S&P Global Ratings.
"I have worked with Howard for over 40 years on billions of municipal financings. But, more importantly, Howard has been a trusted friend and advisor," Hiteshew said. "Howard helped pioneer the tax and disclosure foundations of the mortgage revenue bond sector, improving the lives of untold thousands of first-time homebuyers and low/mod renters. He has also been an industry leader in developing legal standards for securitizations of many revenue streams and assets."
Zucker was also the chairman of the public finance committee of the State and Local Government Law Section of the ABA for two years and prior to that was the chairman of its ethics and professional responsibility committee. He is a life patron fellow of the American Bar Foundation. He was also a trustee of the Citizens Budget Commission.
"Howard Zucker's talents as a gifted lawyer are only exceeded by his consistent integrity, decency and good humor," said Chris Hamel, senior fellow at Municipal Market Analytics Inc.
Zucker has been recognized for his extraordinary contributions to the municipal finance industry. He received a career achievement award from the Municipal Forum of New York in 2007 and the Friel Medal Award for distinguished service in public finance from NABL in 2012.
Zucker said whenever he talks to the public, he always tries to convey the message that being a municipal bond professional is a noble calling.
"Walk down the streets of your communities and look at the schools, hospitals, roads, airports, mass transit systems, housing and other facilities built by bonds — including in Cleveland, the Rock and Roll Hall of Fame," he said. "During my tenure at NABL I certainly attempted to promote the 'Majesty, the Mystery, the Ministry' of municipal finance.'"
He said sound family advice helped frame his work ethic.
"As a relative of mine told me when I was very young, 'Find a career where the work itself is intrinsically meaningful, doing good for people and never take a job solely for the money,'" Zucker said. "I have followed that advice my whole life. I truly love the people at Hawkins and as the Rolling Stones say, 'Wild Horses, Couldn't Drag Me Away.'"
